COVID-19

Helpful links and details to navigate Small Business Relief as the CARES Act legislation is finalized.

A letter regarding the inclusion of the general 7(a) loan program enhancement provisions in the final CARES Act. These enhancements will help stabilize the financial system and prevent further economic consequences beyond what franchises and their employees are already experiencing.

A letter to Majority Leader McConnell and Minority Leader Schumer proposing they increase the small business fund in the CARES Act so that franchisees can access a larger loan in order to cover monthly operating expenses, debt obligations, etc. and not just payroll.

A letter to Speaker Pelosi and Republican Leader McCarthy requesting they work with the IFA to roll out the CARES Act in the way that is best-suited for both franchise businesses and their workers.

Letter to Administrator Jovita Carranza regarding the CARES Act, detailing how the Act can achieve its intended outcome and have maximum impact. This letter urges the Administrator to confirm the eligibility of the franchised businesses in the Paycheck Protection Loan program.

Letter to Chairs Rubio and Velázquez and Ranking Members Cardin and Chabot of the U.S. Senate and House of Representatives regarding the Coronavirus Aid, Relief, and Economic Security (CARES) Act, detailing how the Act can achieve its intended outcome and have maximum impact. This letter urges the Chairs and Ranking Members to confirm the eligibility of the franchised businesses in the Paycheck Protection Loan program.

Letter to Secretary Mnuchin of the U.S. Department of Treasury regarding the Coronavirus Aid, Relief, and Economic Security (CARES) Act, detailing how the Act can achieve its intended outcome and have maximum impact. This letter urges Secretary Mnuchin to confirm the eligibility of the franchised businesses in the Paycheck Protection Loan program.

In light of recent announcements and ongoing legislative action, IFA is providing Small Business Relief guidance and information. This information will be updated as the CARES Act legislation is finalized as the result of ongoing negotiations between the House, Senate and Administration.

IFA worked diligently for our members to ensure that franchise businesses were represented and provided relief from Congress in Phase 3 of the coronavirus relief bill. This document describes the items in the bill that are beneficial for franchising, and some items that still need work.

Spreadsheet with links and details regarding the following, state-by-state: Business closures, school closures, unemployment insurance, FDD updates, legislative/executive actions, government loans to businesses and additional financial relief.